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To: shadowfax who wrote (15215)3/17/1998 10:25:00 PM
From: John Carpenter  Respond to of 95453
 
My opinion is no better than anyone elses' opinion, but
I do think that today's positive late action is
indicative of some near term strength(I think prices
are going higher near term) Today's trading volume
was extraordinary.
If Venezuela is truly willing to compromise, then
a rally, if one materializes, will have staying
power-lots of staying power. This would lead to near
and long term strength.
IF Venezuela compromises in cutting production, the
pressure on institutions to get back in this sector
coupled with short squeeze activity would create
quite a surge indeed.